State Bank Mortgage Rates, Fees & Info
Wonder Lake, ILLEI: 549300UOLN2P4VM4Z591
Tax ID: 36-3014230
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
State Bank is a smaller bank specializing in Refi and Home Purchase loans. State Bank has a high proportion of conventional loans. Their top two markets are Chicago and Whitewater .State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
29Origination Dollar Volume (All Markets)
$5,405,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 24 | $4,770,000 | $198,750 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $5,405,000 | $186,379 | $0 | 0.00% |
For 2018, State Bank's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2018, State Bank's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $5,405,000 | $186,379 | $0 | 0.00% |
For 2018, State Bank's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2018 saw State Bank place emphasis on $100,000 or less loans with 11 originations, totaling $745,000 in origination value.
Applicant Income
State Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 29 | $5,405,000 | $186,379 | $0 | 0.00% |
State Bank lent most frequently to those with DTI ratios of Exempt%, with 29 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 20 | $3,540,000 | $177,000 | $0 | 0.00% |
| Not applicable | 9 | $1,865,000 | $207,222 | $0 | 0.00% |
Approval Rates
Total approvals of all applications91.43%
State Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.10%
State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 29 | $5,405,000 | $186,379 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $35,000 | $35,000 |
| Single Family (1-4 Units):Site-Built | 28 | $5,370,000 | $191,786 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STATE FARM BANK, FSB | Conventional home mortgage | Closing on a mortgage | 1 | 8.3% |
| STATE FARM BANK, FSB | Conventional home mortgage | Struggling to pay mortgage | 1 | 8.3% |
| STATE FARM BANK, FSB | Conventional home mortgage | Trouble during payment process | 6 | 50.0% |
| STATE FARM BANK, FSB | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 16.7% |
| STATE FARM BANK, FSB | Other type of mortgage | Trouble during payment process | 2 | 16.7% |